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Feb 27, 2013
02/13
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economy and if not why not? >> banks are currently being paid on the reserve's 25 basis points, 1/4%. they are receiving less than that because they pay fdic premiums on the deposits that they hold on the other side of the balance sheet so they are put in receiving a few basis points on their reserves. if we cut interest on reserves to zero or slightly negative which is possible, it would have a very small effect in the right direction, very small effect on the incentives of banks to make loans. basically they are not finding as many loans as they like to make when they're earning eight basis points and help to get down to zero. it is in the right direction as i said about one of the reasons we hesitated to do that is it would also lower returns throughout the money markets in our economy and would create some problems in terms of functioning money markets, a federal fund market and other short-term cash markets. is not clear the benefits in terms of more stimulus outweigh the cost in terms of market functioning
economy and if not why not? >> banks are currently being paid on the reserve's 25 basis points, 1/4%. they are receiving less than that because they pay fdic premiums on the deposits that they hold on the other side of the balance sheet so they are put in receiving a few basis points on their reserves. if we cut interest on reserves to zero or slightly negative which is possible, it would have a very small effect in the right direction, very small effect on the incentives of banks to make...
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Jul 17, 2013
07/13
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this economy is needed to blossom. when i talk to business people they say to me we need confidence, that the rules are going to be static, consumers say to me i need confidence, i buy a house and i am confident that the system will remain status and knocked dynamic. i thank you for your service and trust that we will help instill the confidence to augment or supplement the good work you have done. >> thank you. >> the chair recognizes the gentleman from virginia, mr. hurt. >> thank you, german ben bernanke for being here today, thank you for your hard work. i represent a rural district in virginia, one that has not seen the same economic growth other places in this country have seen. we still have a places in our district where we have jobless rates that double digits, we certainly look to washington to adopt policies that will make it easier for our businesses to succeed, families to succeed as opposed to making things more difficult. in listening to your remarks you talk about systemic -- adopting policies that go t
this economy is needed to blossom. when i talk to business people they say to me we need confidence, that the rules are going to be static, consumers say to me i need confidence, i buy a house and i am confident that the system will remain status and knocked dynamic. i thank you for your service and trust that we will help instill the confidence to augment or supplement the good work you have done. >> thank you. >> the chair recognizes the gentleman from virginia, mr. hurt. >>...
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Jun 19, 2013
06/13
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the economy is abo think we thought 2 would be at the start of 2013. we think it is a slow growth u.s. economy growing about 2%. europe maybeefeels like it is hitting the bottom. still no growth, maybe slightly negative. in the developing world it is still the fastest growing markets for us. i think china rather than growing 8%, may be growing closetory 6 to 7%. but the important thing it is not getting any worse and i do see global trade, cross-border trade increasing. >> okay. that's a good sign if we see trade increasing. but ups guidance in the first quarter, you're still saying earnings per share growth of roughly 6 to 12%. the target is 10 to 15%. has that changed as we get ready for your earnings report in july? >> no. we'll update that, adam first part of july. currency was hurting us. we had higher pension expense because of the lower discount rates at the end of last year. take that out we would be pretty close to our long-term ranges. we don't see looking into the future that we shouldn't hit that 10 to 15% earnings growth. >> let me bring u
the economy is abo think we thought 2 would be at the start of 2013. we think it is a slow growth u.s. economy growing about 2%. europe maybeefeels like it is hitting the bottom. still no growth, maybe slightly negative. in the developing world it is still the fastest growing markets for us. i think china rather than growing 8%, may be growing closetory 6 to 7%. but the important thing it is not getting any worse and i do see global trade, cross-border trade increasing. >> okay. that's a...
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Apr 10, 2013
04/13
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that is not what this economy needs. it is killing europe, it is killing japan and it will slow us down. connell: the liberals are angry with him. we have to make manageable cuts. you heard the president talking about that. >> for the republicans to get identified with cutting social security benefits, that is just walking into a trap. they are changing the cost of living formula. the cost of living index is not adequate enough for people, the government has already been gaming that system. it is not the cure for social security. republicans should make it clear. we do not need to cut current benefits. we need a system for young people. connell: the stock market is hitting record highs again. i will point out that the president did not talk specifically about something else we know is in the plan. the buffet role. people make a million dollars or more a year and pay 30% of their income in taxes. for as interesting as all of this is, the president's proposal, exactly what he is saying will not be passed into law. you look
that is not what this economy needs. it is killing europe, it is killing japan and it will slow us down. connell: the liberals are angry with him. we have to make manageable cuts. you heard the president talking about that. >> for the republicans to get identified with cutting social security benefits, that is just walking into a trap. they are changing the cost of living formula. the cost of living index is not adequate enough for people, the government has already been gaming that...
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Feb 11, 2013
02/13
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robert gibbs said in 2000 the president has been focused on the economy, his focus on the economy and works on nothing more than he does on the economy each and everyday. back to you. dennis: thank you for being with us. let's follow up with a couple of questions, the president set himself back with the inaugural address and failed to mention the economy at all, is he trying to make up for that? speakers is in a sense what you saw was much less specific, much less detailed presentation, more of a defense and progressivism when it comes to governing the country. there are different types of speeches and there was criticism even from republicans that he failed to mention the economy, but the state of the union is a much more detailed policy speech and that is what we expect out of the president tomorrow. cheryl: many are saying the president called the state of the union at least toda they wil have something to do with spending, those spending ideas may be doa with republicans on capitol hill. cheryl: wan who want to bring another colleague who has presumably something big to say. denni
robert gibbs said in 2000 the president has been focused on the economy, his focus on the economy and works on nothing more than he does on the economy each and everyday. back to you. dennis: thank you for being with us. let's follow up with a couple of questions, the president set himself back with the inaugural address and failed to mention the economy at all, is he trying to make up for that? speakers is in a sense what you saw was much less specific, much less detailed presentation, more of...
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Jan 30, 2013
01/13
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the economy is contracting. display numbers showing the economy shrank in 2012, was opposed to rise 1.1%. joining us, jeffrey's chief economist. thank you for being with us re. >> if anything, sandy contributed to q4 growth. consumer spending of 2.2% overall. durable goods spending like spending on durable goods like all meals up -- automobiles up. we had pretty good car sales over the fourth quarter. some of that was due to replacement sales of sandy. i don't know what you can look at in this data. dennis: do you believe this number? i was shocked to see an actual decline in gdp, do you think it will be revised upward to a positive? >> it could be revised to a small positive but the best way to look at the second half of last year is to average the third and fourth quarters up 1.5%. we had somewhat inexplicable increase in federal spending, and then in q3. q4 was pulled down by the fact federal government spending was at 8.5%. there is a lot of things temporary practice that attracted q3 and q4. if you look at
the economy is contracting. display numbers showing the economy shrank in 2012, was opposed to rise 1.1%. joining us, jeffrey's chief economist. thank you for being with us re. >> if anything, sandy contributed to q4 growth. consumer spending of 2.2% overall. durable goods spending like spending on durable goods like all meals up -- automobiles up. we had pretty good car sales over the fourth quarter. some of that was due to replacement sales of sandy. i don't know what you can look at in...
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Jun 12, 2013
06/13
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economy will be a big beneficiary. one of the reasons the economy is going through a shift is because of pressure on wages. we have had none in the u.s. the story has longer legs longer term. the manufacturing renaissance which long-term will be to the benefit of the u.s. economy from other places besides china but china will be a big part of it. even if we have to go hrough some choppy times in the interim. connell: what else do you think are positives for us? >> housing is unequivocally a positive. it will cause some problems with housing but it is the real mortgage rate which drives demand. real gdp is the number we care about. when somebody goes to buy a house it is not just the mortgage rate that matters but what is happening to the price of the home we are borrowing to buy. the negative 7% because you have a 30-year fixed mortgage rate, 11% rate of depreciation in home. it still makes a tremendous amount of economic sense to purchase a home, i do not think we are at risk of mortgage rates causing a problem in hou
economy will be a big beneficiary. one of the reasons the economy is going through a shift is because of pressure on wages. we have had none in the u.s. the story has longer legs longer term. the manufacturing renaissance which long-term will be to the benefit of the u.s. economy from other places besides china but china will be a big part of it. even if we have to go hrough some choppy times in the interim. connell: what else do you think are positives for us? >> housing is unequivocally...
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Jan 28, 2013
01/13
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does she have what it takes to fixes economy? the debate ahead following the love fest between the president and secretary clinton on "60 minutes last night. cheryl: a rare bipartisan moment in washington as president obama pushes immigration reform. republicans are in rare agreement with this administration. dennis: top of the hour, stocks every 15 minutes. nicole on the floor of the new york stock exchange. stocks can't make up their mind. >> right? don't forget, not far off from the all time high. what's interesting is the fear index with an up arrow today, slowly gaining and there's volatility. we crossed the unchanged line, sometimes 50-60 times is not unusual to see that, but the trend, no doubt, to the upside. 11 of the last 12 trading days have up arrows. we'll see where we end today. caterpillar leading the way, dow jones up, a winner,s and transimportants doing -- transports doing well. turns out, they have to close one-third of the stores over the next decade. obviously, looking at the stores that are not as luck -- lu
does she have what it takes to fixes economy? the debate ahead following the love fest between the president and secretary clinton on "60 minutes last night. cheryl: a rare bipartisan moment in washington as president obama pushes immigration reform. republicans are in rare agreement with this administration. dennis: top of the hour, stocks every 15 minutes. nicole on the floor of the new york stock exchange. stocks can't make up their mind. >> right? don't forget, not far off from...
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Feb 22, 2013
02/13
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that is downer for economy. government is hurting us with the federal reserve and what the federal government is doing with taxes and spending. adam: what is the word we should fear? we're here from the government and and we're here to help you. >> watch the wallet what is left of it. adam: editor-in-chief. thanks for joining us today. >> thank you. shibani: does boeing have a fix for its dreamliner nightmare? it is a nightmare that keeps going on and going on. the company is presenting a solution to the faa today. we'll go live to wash an for the latest details -- washington. adam: also look at some of today's winners and losers. today is gonna be an important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleanes are now powering some of america's biggest cities. siemens. answers. he's going to apply testos
that is downer for economy. government is hurting us with the federal reserve and what the federal government is doing with taxes and spending. adam: what is the word we should fear? we're here from the government and and we're here to help you. >> watch the wallet what is left of it. adam: editor-in-chief. thanks for joining us today. >> thank you. shibani: does boeing have a fix for its dreamliner nightmare? it is a nightmare that keeps going on and going on. the company is...
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Jan 18, 2013
01/13
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the economy revving up in the fourth quarter. phil flynn of price futures group is in the trading pits of the cme for us. >> the most exciting thing that i heard today was that api report. yes, the man did that to the lowest level in over 16 years. production, the highest level since before the civil war, consider that. up 16%. that is an incredible number. it is really changing the global energy market. there will still be some risk factors going into the weekend. we are a little bit concerned. right now, prices are staying pretty steady. there are a lot of market ahead of this three-day holiday weekend. melissa: i am surprised that that kind of data does not have an impact on price. >> partly, it is because of the economics. the dollar viewpoint. demand growth in the future. the other issue is that what we will see is the global marketplace, as well, starting to get out into the global marketplace. it will drive up the cost of wti. really, you have to look at this bread. you know, we will see falling prices in europe. lower pro
the economy revving up in the fourth quarter. phil flynn of price futures group is in the trading pits of the cme for us. >> the most exciting thing that i heard today was that api report. yes, the man did that to the lowest level in over 16 years. production, the highest level since before the civil war, consider that. up 16%. that is an incredible number. it is really changing the global energy market. there will still be some risk factors going into the weekend. we are a little bit...
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Jun 14, 2013
06/13
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economy? with birth of prince william and duchess kate middleton's offspring expected in a few weeks, brittish officials hope it will provide a bouncing baby boost for the country's weak economy. with measely .3 of a percent of gdp growth in the first quarter, and following british confidence brittain could use a bump no matter where it comes from. how about a kardashian? >> this is where oddsmaker place their bets. a delivery date of july 13th has ten to one odds. the most popular guess of the baby's weight is ten pound. the most popular bet, the baby's name. most common guess is alexander. queen elizabeth's name. adam: one ever our producers say victoria. >> victoria with be nice. kim kardashian and princess are due on same day. adam: the same day. we're moving ahead. not looking at babies. sire you've serious spying and central banks and more on the agenda for world leaders meeting in ireland. world bank president robert zoellick joins tracy byrnes and ashley webster for a preview next on f
economy? with birth of prince william and duchess kate middleton's offspring expected in a few weeks, brittish officials hope it will provide a bouncing baby boost for the country's weak economy. with measely .3 of a percent of gdp growth in the first quarter, and following british confidence brittain could use a bump no matter where it comes from. how about a kardashian? >> this is where oddsmaker place their bets. a delivery date of july 13th has ten to one odds. the most popular guess...
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Apr 11, 2013
04/13
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economy. lower those tax rates. big companies be as competitive all across the world. you have companies that will be looking to other places to produce. that is one of the things we are trying to do to a lot of the companies. melissa: what do you think are the hopes of you winning the argument? we cannot afford to give tax breaks to the wealthy and to corporations and pay for it by cutting it from people who really need it. how do you battle back? >> the bottom line is if you continue to raise taxes on the job creators, we will not have job creation. that is what this is about. you have a lot of people out there who have simply quit looking for work. if we wanted to stimulate job creation, we have to allow those companies to be able to prosper. again, we have the highest tax rate in the world when it comes to businesses. you will not be very competitive in the world. i think we have a very bipartisan opportunity to do this. melissa: when do you think we can see results? >> we are hoping this
economy. lower those tax rates. big companies be as competitive all across the world. you have companies that will be looking to other places to produce. that is one of the things we are trying to do to a lot of the companies. melissa: what do you think are the hopes of you winning the argument? we cannot afford to give tax breaks to the wealthy and to corporations and pay for it by cutting it from people who really need it. how do you battle back? >> the bottom line is if you continue to...
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Mar 29, 2013
03/13
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what happens to the economy now? i am hearing stories about businesses that will either have to cut the wages, to layoffs or close the businesses. >> there will be job losses. we know that. we cannot kid ourselves about that. that is something that is worrying a lot of people. there is no invitation at the example, for example, big businesses are leaving the country. nicole: that is a very good thing. >> there is also talk that there is no indication that the to her resume has fallen. no major cancellations into her. that is our main bread and butter, so to speak. nicole: how about your son? how are the children cyprus? >> my son is eight. people are not crying and screaming and throwing themselves on the floor. he knows as far as an 8-year-old can understand. of course, an 8-year-old does not understand the impact. grown-ups do not understand the impact of what this bailout brings. nicole: do you worry that it may not be enough? >> anything is possible, nicole. anything is possible. nicole: i love you very much. kis
what happens to the economy now? i am hearing stories about businesses that will either have to cut the wages, to layoffs or close the businesses. >> there will be job losses. we know that. we cannot kid ourselves about that. that is something that is worrying a lot of people. there is no invitation at the example, for example, big businesses are leaving the country. nicole: that is a very good thing. >> there is also talk that there is no indication that the to her resume has...
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Jul 17, 2013
07/13
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ben bernanke answering tough questions on the economy. peter barnes from capitol hill with what she has to say. peter. peter: the fed staying on message on paper. it depends on the incoming data whether or not the fed will start to taper's $85 billion per month in bond purchases, quantitative easing sooner or later. but he did add these plans are by no means on a preset course. listen. >> on one hand the conditions tested than expected, inflation rising decisively back toward our objective, the case of asset purchases could be reduced more quickly. on the other hand if it were to become favorable inflation did not appear to be moving back toward 2%, or financial conditions which have taken recently were judged insufficiently, native to obtain the mandated objective, the current registers maintained for longer. peter: so pick what you want out of that. the fed chairman did say he wants the market to get the message better. from the fed. want to mention one of his colleagues, fed governor speaking at this hour on the asset bubbles and their
ben bernanke answering tough questions on the economy. peter barnes from capitol hill with what she has to say. peter. peter: the fed staying on message on paper. it depends on the incoming data whether or not the fed will start to taper's $85 billion per month in bond purchases, quantitative easing sooner or later. but he did add these plans are by no means on a preset course. listen. >> on one hand the conditions tested than expected, inflation rising decisively back toward our...
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Jun 26, 2013
06/13
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the economy improves. as we look at purchase applications that leading indicators of home buying, be a new or existing home sales, those tell us the activity will accelerate considerably further into the back half of the year which will bully economic growth in general. tracy: a big growth. lows for people in need to buy a car. the carmakers will get the numbers next week. expecting pickups even further. >> absolutely. pent-up demand for housing. across the board were seen in increase in interest sensitive spending, things like housing and cars, appliances, other big ticket items. this is reflective of improving confidence. they're willing to open their wallets. it's evidence that finally low interest rates are working. households are really to take out loans at low interest rates and also banks are willing to extend credit. tracy: quickly, what worries you? we have a debt ceiling debates coming up this summer. is there anything on their that could derail all of this? >> i think the debt ceiling gets pushe
the economy improves. as we look at purchase applications that leading indicators of home buying, be a new or existing home sales, those tell us the activity will accelerate considerably further into the back half of the year which will bully economic growth in general. tracy: a big growth. lows for people in need to buy a car. the carmakers will get the numbers next week. expecting pickups even further. >> absolutely. pent-up demand for housing. across the board were seen in increase in...
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investors are very savvy that the overall economy is nowhere near healthy. >> the economy is moving forward. i disagree. everybody would love to see the economy growing at the pace china is, even though china has slowed down. it will take time. with the support, and even though you can argue this is a marketing propped up by the fed, i think the market could sustain itself. lori: i am to keep interrupting you. i really want to zero in on what is going on right now. could this be the beginning of a more significant pullback? >> it could be. if we see a pullback, it will be rather quick. it will be rather are. it is not a full-blown correction. it is not a bear market. this is a typical walmart that will shake out a lot of week tans. it will give bargain hunters an opportunity to feel marketable. it will be the opportunity for their retail investors sitting at home looking at what they should be fine. they will be putting their lives together now. lori: what names or industries should be on that list? where do you see the s&p at the end of the year? >> i think you want to have a diversified p
investors are very savvy that the overall economy is nowhere near healthy. >> the economy is moving forward. i disagree. everybody would love to see the economy growing at the pace china is, even though china has slowed down. it will take time. with the support, and even though you can argue this is a marketing propped up by the fed, i think the market could sustain itself. lori: i am to keep interrupting you. i really want to zero in on what is going on right now. could this be the...
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Jul 31, 2013
07/13
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i think the economy would benefit. in the near term, you know, it is hard to see it happening but i'm glad the president at least is talking about it. but details matter and his aren't so good. lori: okay, phillip swagel, we'll see what the fed does at top of the hour. thank you for joining us. >> thank you. adam: stocks clinging barely to gains just 20 minutes before the fed's statement. we'll get a view from the trading floor next. lori: five years after the housing crisis began one california city is going to controversial lengths to save underwater homeowners. ♪ clients are always learning more to make their money do more. (ann) to help me plan my next move, i take scottrade's free, in-branch seminars... plus, their live webinars. i use daily market commentary to improve my strategy. and my l scottrade office guides my learning every step of the way. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade... ranked "highest in customer loyalty for brokerage and i
i think the economy would benefit. in the near term, you know, it is hard to see it happening but i'm glad the president at least is talking about it. but details matter and his aren't so good. lori: okay, phillip swagel, we'll see what the fed does at top of the hour. thank you for joining us. >> thank you. adam: stocks clinging barely to gains just 20 minutes before the fed's statement. we'll get a view from the trading floor next. lori: five years after the housing crisis began one...
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Feb 26, 2013
02/13
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what i see in the economy in oregon is community banks that are willing to lend in to the local economies because they understand it better, they're more comfortable with it, they understand, they may have relationships to the competency of an individual company and so forth and this sort of bias kind of counter-productive to our overall health of the economy? >> absolutely. the playing field isn't level, there is not market disciplines a too much risk taking said getting rid of too big to fail is an incredibly important objective and we are working in that direction. >> thank you. i want to turn to the fiscal cliff. we had a drop in gdp in the fourth quarter of last year. do you share the view somehow that that was true to december 31st fiscal cliff? >> only incidentally. one of the factors that happened to contribute to the fourth quarter was twenty-two% annual rate drop in defense spending and it is possible that in anticipation of the sequester, there may have been changes in spending patterns. as i said in my remarks i think the fourth quarter was really accommodation of transitory f
what i see in the economy in oregon is community banks that are willing to lend in to the local economies because they understand it better, they're more comfortable with it, they understand, they may have relationships to the competency of an individual company and so forth and this sort of bias kind of counter-productive to our overall health of the economy? >> absolutely. the playing field isn't level, there is not market disciplines a too much risk taking said getting rid of too big...
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Dec 18, 2013
12/13
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the economy was faltering. we needed an additional boost, we brought in the asset purchase program again. we put in specific objective which on the labour market, our sense was once the intermediate objective was obtained, the economy had grown and was moving forward, at that point we could wind down the secretary chew, supplementary to lend achieve the same amount of accommodation using interest rates and forward guidance and so i do want to reiterate that this is not intended to be a
the economy was faltering. we needed an additional boost, we brought in the asset purchase program again. we put in specific objective which on the labour market, our sense was once the intermediate objective was obtained, the economy had grown and was moving forward, at that point we could wind down the secretary chew, supplementary to lend achieve the same amount of accommodation using interest rates and forward guidance and so i do want to reiterate that this is not intended to be a
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such a huge part of the economy. regulations have been developed many years ago, and everyone is comfortable with them. a lot of the news you're hearing about regulations today is starting to take place in cities. and the trend toward people sharing apartments. that is our neighbors tend to get involved. it's a -- for a big supporter of deregulation. believe this is a big industry. it's okay to be regulated, so we have created something called the short term rental advocacy center. ashley: you have had some push back here in new york city. judges say you can't use your home as a hotel room. but you're saying you do support regulation just because you want to, you know, have fairness and you don't want anyone walking away fairly bad. >> that's right. and markets like new york are not as important to us as they may be to other companies other in this market. we think first and foremost consumers and donors to just have a lot of clarity about what they can and can't do. and regulation is sometimes driven by these neighb
such a huge part of the economy. regulations have been developed many years ago, and everyone is comfortable with them. a lot of the news you're hearing about regulations today is starting to take place in cities. and the trend toward people sharing apartments. that is our neighbors tend to get involved. it's a -- for a big supporter of deregulation. believe this is a big industry. it's okay to be regulated, so we have created something called the short term rental advocacy center. ashley: you...
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it could do a lot less to harm the economy. if you make intelligent choices you use it to raise more revenue at the same time. tracy: if only, donald marron thanks for sharing your thoughts. >> thanks. ashley: stocks trying to cut some of the losses before the close. we have live trader reaction from the new york stock exchange next. tracy: plus we have a report of trouble aa a multibillion-dollar teamsters pension plan. gerri willis will report on the possible big money short fall. that's next. but first as we head out to break, let's look at some winners and losers on the s&p 500 today. there are some. nabors industries is one of them. up almost 5%. we'll be right back. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platformrom charles schwab... tdd#: 1-800-345-25 gives me tools that help mfind opportunities more easily. tdd#: 1-0-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab m
it could do a lot less to harm the economy. if you make intelligent choices you use it to raise more revenue at the same time. tracy: if only, donald marron thanks for sharing your thoughts. >> thanks. ashley: stocks trying to cut some of the losses before the close. we have live trader reaction from the new york stock exchange next. tracy: plus we have a report of trouble aa a multibillion-dollar teamsters pension plan. gerri willis will report on the possible big money short fall....
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Jun 21, 2013
06/13
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this economy -- >> there are some points made, either the economy strengthens sufficiently that the fed and pull back asset purchases and paper as they're talking about going from $85 billion to $75 billion a month, who knows? there's a lot of money being or the economy doesn't strengthen enough and canned tapir and liquidity will drive asset prices. q e was designed for it deflation, and designed to raise home prices and in mortgages -- i am not saying the world is perfect. and we just disagree with what the ultimate outcome would be and we are more bullish than he is. >> equity markets trading at 15 times multiple but you really have a growth trajectory of 2%. normal trajectory for the equity market with 15 times multiple gdp growing. but you don't have that. you need to see a fill in with economic activity in the second half for start to see more -- i would like to point out of this market, as you see even taper you are seeing risk of trade kick in and yields go higher, and maturities to four year, 3.5 year maturity to waive this out and perhaps wetter the approach to their portfolio
this economy -- >> there are some points made, either the economy strengthens sufficiently that the fed and pull back asset purchases and paper as they're talking about going from $85 billion to $75 billion a month, who knows? there's a lot of money being or the economy doesn't strengthen enough and canned tapir and liquidity will drive asset prices. q e was designed for it deflation, and designed to raise home prices and in mortgages -- i am not saying the world is perfect. and we just...
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Sep 18, 2013
09/13
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the economy getting better. adam: some people say the economy is not getting better. you look at inflation. they have a target of about 2%. it is below that. >> initially, over the next couple years, look at the market. let's face it, the unemployment rate is coming down. you can have a debate on whether or not some of that is due to the inflation rates. the near fact is, we are seeing labor market improvement. we lost almost 9 million jobs during the financial crisis. we have created more than 6 million jobs. those are the facts. now may be a good time to actually get into the market. >> i think that this is a fairly good time to get into the market. we will not see the 13.4% annual gains or even the 19 plus rates of return on the s&p 500 forever. we certainly see that organic growth in the market, it is reasonable to expect every 12 months eight-12%. we will see some positive contributions. i think this is a good time to get back into the market. adam: thank you very much. we will have chairman bernanke's comm
the economy getting better. adam: some people say the economy is not getting better. you look at inflation. they have a target of about 2%. it is below that. >> initially, over the next couple years, look at the market. let's face it, the unemployment rate is coming down. you can have a debate on whether or not some of that is due to the inflation rates. the near fact is, we are seeing labor market improvement. we lost almost 9 million jobs during the financial crisis. we have created...
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why should you be bullish about the economy? take a look at one of the segments as selling well or do so will well. trucks. when gm's sales call. the head of gm's sales was pointing to the strong performance of gm trucks. ford had strong performance as well. you go by truck because you decided you wanted one. you have incentives in december. by in january because you need a truck. your business is expanding. that is good news. a lot of good news. tracy: we will take some positive news on friday that. ashley: my next guest says despite strong sales, there are some concerns about how long the trend last. joining me now, director of automotive research of ags. thank you for being here. there were great numbers. ford, gm, chrysler kamal posting strong gains in sales for the month of january. so strong that it surprised you, perhaps? >> a little bit above our expectations. fifteen. two, were looking at 153-5. ashley: okay. so to his point, he says, people are buying the trucks because they are expanding business. it is a good sign fo
why should you be bullish about the economy? take a look at one of the segments as selling well or do so will well. trucks. when gm's sales call. the head of gm's sales was pointing to the strong performance of gm trucks. ford had strong performance as well. you go by truck because you decided you wanted one. you have incentives in december. by in january because you need a truck. your business is expanding. that is good news. a lot of good news. tracy: we will take some positive news on friday...
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Jan 31, 2013
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. >> if that helps our economy, we would have the best economy in history. there were no spending cuts in the fourth quarter. we have not executed as a cluster yet. companies did begin to pull back. dagen: one that they are looking for is more infrastructure spending. we have heard that over and over again. why won't the white house get that? >> dagen, it is a different philosophy. the president and his party believe that the government is the central player in our economy. we talk about cutting spending, they think that hurts the economy. that divides everything we know about our countries history and economics. the more money you leave in the private sector, the more money grows and jobs are created. this is the first president in my lifetime that has continued to go the government spending route despite -- this is the slowest economy and history as far as being a recovery. i cannot believe that the president does not understand what is going on. he seems intent on bringing our country down so that he could reorganize. dagen: senator, it was good to see yo
. >> if that helps our economy, we would have the best economy in history. there were no spending cuts in the fourth quarter. we have not executed as a cluster yet. companies did begin to pull back. dagen: one that they are looking for is more infrastructure spending. we have heard that over and over again. why won't the white house get that? >> dagen, it is a different philosophy. the president and his party believe that the government is the central player in our economy. we talk...
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Nov 11, 2013
11/13
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money out of the economy. cheryl: sandra, what do you say to this? i know it's different in illinois right now with regards to vets and jobs. >> no, and it's a huge one, one that some of the other states could possibly learn from. there's a program here in illinois that for military medics, they can become certified nurse aides or first responders without taking additional training or additional schooling as long as they pass a written test that would put them into an employment. i think other states could follow suit. so while i would normally agree with dennis, i do think it has to be a collaboration at the state and federal level as well as the private level because also right here, dennis and cheryl, in illinois employers are offered a $5,000 tax credit if they hire on a veteran. so that's a huge incentive at the state level that does promote private hiring of veterans. cheryl: rich, i think the administration could learn something here. you have all of these companies, the 100,000 jobs mission, that's jus
money out of the economy. cheryl: sandra, what do you say to this? i know it's different in illinois right now with regards to vets and jobs. >> no, and it's a huge one, one that some of the other states could possibly learn from. there's a program here in illinois that for military medics, they can become certified nurse aides or first responders without taking additional training or additional schooling as long as they pass a written test that would put them into an employment. i think...
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Feb 12, 2013
02/13
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economy and the management team of the economy can get us on a good path. tracy: we have got higher taxes for these guys. we have got health insurance costs basically preventing them from hiring more than 50 people. what do you think they would like to hear tonight during the president's state of the union? >> well i think they would like to hear the president say, look, i understand spending really got ramped up and we can't really afford that as a share of gdp. we know tax revenues are very low. part of that is because there are some unemployed people are not paying any taxes. if we can get employment back and tax revenues will come up and we can get more balance and all get on a path we believe in, instead of driving my car one more year i will buy a new one. that is the key here. we need a good plan ordinary folks like us can believe in. then we'll spend more money. thht will be good. tracy: bill, real quick, one of the real positives they do have plans to make capital outlays. they do want to get out and buy some stuff. maybe that's something. >> well,
economy and the management team of the economy can get us on a good path. tracy: we have got higher taxes for these guys. we have got health insurance costs basically preventing them from hiring more than 50 people. what do you think they would like to hear tonight during the president's state of the union? >> well i think they would like to hear the president say, look, i understand spending really got ramped up and we can't really afford that as a share of gdp. we know tax revenues are...
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Mar 21, 2013
03/13
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so is all of this a sign the economy is improving? joining me now is michelle gerard, most fabulous u.s. economist for rbs. [laughter] how do you like that? did you know your title had been changed? >> i'm going to get my business cards reprinted. melissa: fabulous, why not? [laughter] talk to me about this data. did it make you feel good about the economy? is it a sign we're moving in the right direction? >> i tell you, you know, i -- it's hard for me to believe that the economy, um, is doing as well as it is. i mean, we've still got all the uncertainty about washington, and i think, you know, what's going on in cyprus is a reminder we shouldn't be so complacent about the eurozone, but the economy is really looking to be doing better than i, um, had even hoped that it would be. you mentioned the jobless claims numbers. i mean, there's something going on there. the trend there is nicely, has moved down nicely. it really kind of corroborates the strength we've seen in the employment numbers in the last couple of months. we know housing
so is all of this a sign the economy is improving? joining me now is michelle gerard, most fabulous u.s. economist for rbs. [laughter] how do you like that? did you know your title had been changed? >> i'm going to get my business cards reprinted. melissa: fabulous, why not? [laughter] talk to me about this data. did it make you feel good about the economy? is it a sign we're moving in the right direction? >> i tell you, you know, i -- it's hard for me to believe that the economy,...
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economy a staggering $140 billion each year. what's more startling is the cost of carrying out the damaging cyber attacks is a lot lower than you might think. for more, let's bring cyber attack economist. good to see you. this is the topic that you are writing on for your first, your last column, the latest, the greatest on foxbusiness.com. welcome to the family first of all. i just had john nelson on the show, they always rank the ceos and the ceos worries. number three was cyber attacks. it was number 10 a year ago. are we first and foremost not being careful enough about cyber attacks? and then we will look at the money. >> i think people are becoming aware. they are becoming more aware of the threats related to cyber security. i have a number of clients who come to us and say we need to do more, some of the bigger players do it, they don't necessarily understand they are a threat, nobody would steal their information when in fact as much of a juicy target for the attackers as anybody else. i have information one piece togeth
economy a staggering $140 billion each year. what's more startling is the cost of carrying out the damaging cyber attacks is a lot lower than you might think. for more, let's bring cyber attack economist. good to see you. this is the topic that you are writing on for your first, your last column, the latest, the greatest on foxbusiness.com. welcome to the family first of all. i just had john nelson on the show, they always rank the ceos and the ceos worries. number three was cyber attacks. it...
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Sep 19, 2013
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cheryl: the economy is in that bad of shape? >> the economy is not in that bad of shape. i think that is what the fed knows here. until the market stop, i think they will continue on and upward. cheryl: you are predicting 160-170,000 jobs. that is something that obviously bernanke did not like yesterday with their statements. >> the economy is at a modest growth path. even though better growth is coming in 2014, i think we have felt that tapering would send the yield to 3.1%. dennis: at what point should the fed started to pull back on the bond purchases? >> they should have done it yesterday. they will pull back by about ten-15-$20 billion. the economy does not have to get up and go. the real issue that they have, the financial system is working. it is very vibrant. the economy has sort of grown at a 2% rate. they are really worried about scratching the overall market. cheryl: they are deflating the u.s. dollar. next year, that is a healthy economy? really? >> i have been saying for four years that they are insane. all they have done is made the bankers richer. we are fo
cheryl: the economy is in that bad of shape? >> the economy is not in that bad of shape. i think that is what the fed knows here. until the market stop, i think they will continue on and upward. cheryl: you are predicting 160-170,000 jobs. that is something that obviously bernanke did not like yesterday with their statements. >> the economy is at a modest growth path. even though better growth is coming in 2014, i think we have felt that tapering would send the yield to 3.1%....
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Apr 12, 2013
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the sound of the economy in march in terms of retail sales. take a look at the specifics, the main street tape, what was down. gas station spending doejçr that was kind of a good thing because gas prices were lower. electronic spending down. department store spending down, sporting goods, music, books, that kind of a thing. for a new startup, giftbar. what do you do? >> learn online gift card marketplace. on-demand gift cards. jeff: you have been seeing an uptick. a shop in the north side of chicago if you look on the floor you see a lot of dogs. you have been seeing an uptick, do you have reason to be worried about this economy? >> not at all. we talk a lot of them, they see sales go up. a unique product they have to offer makes it an experience as well. jeff: take a look at some of those retail sales. take a look at the retail stocks kind of mixed today, that reflects it, sort of mixed feeling about this. the numbers bounce around from month to month. something of a trend or not. and this is your dog, isn't it? >> yeah. jeff: the most well
the sound of the economy in march in terms of retail sales. take a look at the specifics, the main street tape, what was down. gas station spending doejçr that was kind of a good thing because gas prices were lower. electronic spending down. department store spending down, sporting goods, music, books, that kind of a thing. for a new startup, giftbar. what do you do? >> learn online gift card marketplace. on-demand gift cards. jeff: you have been seeing an uptick. a shop in the north...
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Jan 21, 2013
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no really good news and our economy. there is a huge opportunity. the saudi arabia of energy by 2020 if we are allowed to get to it. lori: thank you. melissa: all right. sports. superable 47 is now the battle of the bros. twenty-eight to 13 capturing the afc crown and a chance to play his brother. san francisco forty-niners and the big game. 28-24 yesterday. played one week from sunday in new orleans. kick up its 6:30 p.m. eastern time. i don't expect immediate to blow up this battle. melissa: was there mom on morning television? who will she reform. the camera on her during the game. dad. both football players before the begin coaches. we have been down this road before. i'm getting excited about this. the buccaneers fan by marriage can be very tough. all right. coming up tonight, the jobs council has not had an official meeting in one year. set to retire at the end of the month. our power panel will discuss. tonight at 5:00 p.m. eastern right here on fox business. don't miss it. melissa: there are several ahead in our programming. live programming
no really good news and our economy. there is a huge opportunity. the saudi arabia of energy by 2020 if we are allowed to get to it. lori: thank you. melissa: all right. sports. superable 47 is now the battle of the bros. twenty-eight to 13 capturing the afc crown and a chance to play his brother. san francisco forty-niners and the big game. 28-24 yesterday. played one week from sunday in new orleans. kick up its 6:30 p.m. eastern time. i don't expect immediate to blow up this battle. melissa:...
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Apr 29, 2013
04/13
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, and allow us to better compete in the global economy. over the past four years thanks to ray's leadership we built or improved more than 350,000 miles of road. and up enough to circle the world more than 14 times. we've upgraded more than 6,000 miles of rail. enough to go coast to coast and back. we've repaired or replaced more than 20,000 bridges. and helped put tens of thousands of construction workers back an the job. and that's all due in no small part to ray lahood's leadership. so every american can thank ray for his dedication to make our transportation system not just stronger but also safer. when it comes to his focused attention on the dangers of distracted driving for example, it is saving lives. and on a personal note, ray lahood has been a good friend of mine for many years. before he served in my cabinet and we served together in congress. he is a republican. i'm a democrat. these days that sometimes keeps folks apart but what always brought ray and i together was a shared belief that those of us who serve in public service
, and allow us to better compete in the global economy. over the past four years thanks to ray's leadership we built or improved more than 350,000 miles of road. and up enough to circle the world more than 14 times. we've upgraded more than 6,000 miles of rail. enough to go coast to coast and back. we've repaired or replaced more than 20,000 bridges. and helped put tens of thousands of construction workers back an the job. and that's all due in no small part to ray lahood's leadership. so every...
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Feb 27, 2013
02/13
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when do we see that filter its way into the economy? >> well, the trend of increasing cash on the balance sheet for s&p 500 nonfinancials has been in place for a long time, but in the fourth quarter with 30 companies left to report, that's a new record of one and a quarter trillion of cash on the balance sheet. as long as we have earnings growth like we see in the fourth quarter of 2012, 7.8% growth, 4% higher than what we were looking continue to horde cash and put some of it to work. >> yeah, you know, only have countdown clocks of the next deadline in washington. how do you know what to do with yourself? >> the stock market, thankfully, is modestly priced here, 13.5 times forward 12-month earnings, making it resill yept in the face of the stresses like itty, the sequester, the fiscal cliff, the upcoming debate over the debt ceiling, but as long as the stock market remains modestly priced and continue to see earnings growth, the path to the market should only be higher. >> talk about mna a little bit. we had deals this year, and you'v
when do we see that filter its way into the economy? >> well, the trend of increasing cash on the balance sheet for s&p 500 nonfinancials has been in place for a long time, but in the fourth quarter with 30 companies left to report, that's a new record of one and a quarter trillion of cash on the balance sheet. as long as we have earnings growth like we see in the fourth quarter of 2012, 7.8% growth, 4% higher than what we were looking continue to horde cash and put some of it to...
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economy. still hurting or recovering? a first-hand take with robb hilson in minutes. adam: how much did the pilot experience have to do with the crash in san francisco? the new push to reveal pilot records and reviews to the fine public. lauren: the muslim brotherhood rejecting plans for a new objective. cutting back financial aid to the troubled nation. adam: we want to check in with nicole petallides. nicole: so far, so good. here we are sitting at 15,307. we are looking out five of the six trading days. it shows you that the run has been a good one. the tech heavy nasdaq, the tech really glad yesterday. a couple of pieces of news that we did get, talking about customers being a little more scarce than they had hoped, we saw the imf cut its global gdp forecast. they are saddling it. whether or not they may be looking at fedex. adam: thank you very much. see you in 15 minutes. the fdic is proposing a raise to the bank leverage ratio to 5%. that is higher than that 3% level required. they all
economy. still hurting or recovering? a first-hand take with robb hilson in minutes. adam: how much did the pilot experience have to do with the crash in san francisco? the new push to reveal pilot records and reviews to the fine public. lauren: the muslim brotherhood rejecting plans for a new objective. cutting back financial aid to the troubled nation. adam: we want to check in with nicole petallides. nicole: so far, so good. here we are sitting at 15,307. we are looking out five of the six...
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connell: we talk about our own economy. where the economy is going domestically. domestic policy on the economy is where president obama's second term will be focused on. what will the united states do or what should the united states do? >> there is a cliff also coming into the middle east that is a complete change to the landscape. libya will face this. more importantly, syria is going into a massive civil war which could become a religious war. we will see even years of the same type of conflict. it would have to make a decision to enter. it does not have to be on the ground. it does not even have to be in the air. connell: what are the odds that you would put on u.s. military involvement in syria? >> none so far. there will be no ground troops. connell: the question is, you do not see that changing? >> when we were at 20,000, with that baby out 40,000 it would change.% it is a very sharp decision to not intervene. connell: thank you, as always. at a quarter till the hour, let's go back to the new york stock exchange. nicole is talking netflix this time around.
connell: we talk about our own economy. where the economy is going domestically. domestic policy on the economy is where president obama's second term will be focused on. what will the united states do or what should the united states do? >> there is a cliff also coming into the middle east that is a complete change to the landscape. libya will face this. more importantly, syria is going into a massive civil war which could become a religious war. we will see even years of the same type...
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Jul 15, 2013
07/13
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you're not investing in the overall economy. that is how we could have a divergence where earnings are at record levels but still have high unemployment rate. pay attention to earnings. as long as guidance from the businesses are getting or staying positive i think that will be a very good indicator for equity investors saying you can still stay with this market despite hitting new all-time highs. ashley: so from a valuation standpoint, brian, what sectors do you like and why? >> yeah, my favorite two areas would be information technology and industrials. i think that there's actually a lot of pessimism still priced into those areas. if you think about industrials that is typically tied to the overall economy. it is more what we would call a cyclical area where it's tied to the overall growth rate of the economy as opposed to some of them like financials which is more driven by interest rates but from a valuation perspective it is actually a reasonable area to look for more opportunities and more and more of the businesses in th
you're not investing in the overall economy. that is how we could have a divergence where earnings are at record levels but still have high unemployment rate. pay attention to earnings. as long as guidance from the businesses are getting or staying positive i think that will be a very good indicator for equity investors saying you can still stay with this market despite hitting new all-time highs. ashley: so from a valuation standpoint, brian, what sectors do you like and why? >> yeah, my...
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Apr 16, 2013
04/13
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economy is improving. so being in financials is a leverage play on playing the private sector of the economy. i think that is the second component. tracy: but there still is this huge dichotomy between the actual main street economy and wall street, right? so when eventually do they all come together? >> well, you know, for those people, there are a lot of people who come to me and say, i'm not telling a story that the u.s. main street looks great. i'm telling a story that says main street is better off than it was a few years ago and we're healing. we're in the process of healing. tracy: yeah. >> wall street is not just keying off the economy but corporate profits. and corporate profits are up 50% from 2007. and everybody's been or worried about corporate profits going forward. and i like that. you're climbing the wall of worry. you're beating lowered expectations for the markets. so my argument is that the stock market is really a barometer of the corporate sector. tracy: sure. >> not main street. tracy:
economy is improving. so being in financials is a leverage play on playing the private sector of the economy. i think that is the second component. tracy: but there still is this huge dichotomy between the actual main street economy and wall street, right? so when eventually do they all come together? >> well, you know, for those people, there are a lot of people who come to me and say, i'm not telling a story that the u.s. main street looks great. i'm telling a story that says main...
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Dec 19, 2013
12/13
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this is not an economy standing on its own, this is a cropped up economy and we can't declare the economy healthy until we get the fed out of it and that is why i am bullish for gold and i think this is a great buying opportunity because this backdrop will be healthy over the long term for having hard assets like gold and silver and other hard assets like real estate. dennis: the only problem is the economy is as weak as you say, the fed doesn't paper anymore and it is okay. thanks for being with us, scott carter. cheryl: kanye west coast minute. jerry brown going from defensive to offensive as he tries to stop california businesses from leaving the golden state. official announced they will offer $30 million in tax credits to businesses especially those that are attempting to flee. businesses must prove they will use the credits to not just pay in california but also create jobs. noble energy believes it will be drilling for oil in northeast. for the next ten years. the area known for gold is likely rich in black crude. noble is seeking permission from the state to drill exploration in t
this is not an economy standing on its own, this is a cropped up economy and we can't declare the economy healthy until we get the fed out of it and that is why i am bullish for gold and i think this is a great buying opportunity because this backdrop will be healthy over the long term for having hard assets like gold and silver and other hard assets like real estate. dennis: the only problem is the economy is as weak as you say, the fed doesn't paper anymore and it is okay. thanks for being...
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economy will global economy continues to grow. cheryl: they can't cut any more. and productivity. >> you will start seeing revenue increases, and the economy as a whole, earnings by cutting and creating more. and increase third quarter gdp is an anomaly, and as a whole you take that and say things wwll get better, more products gets old and services rendered in 2014. cheryl: the bigger question for the markets, we are down a few points. and to make that -- >> a string of economic data don't have a string, one or two data points at best. today's data there's a caveat for each of those points, and because of the thanksgiving holiday associated with that. we are far away from actual tapering, december and january, the problem in january a transition period. and it is where it goes. >> march bite be a little early. they want to telegraph any move, the biggest fool is forward guidance. so you see them talk about capering and talk about capering more and more before they do it so i would expect them to have three or four different fomc minutes, increased likelihood of
economy will global economy continues to grow. cheryl: they can't cut any more. and productivity. >> you will start seeing revenue increases, and the economy as a whole, earnings by cutting and creating more. and increase third quarter gdp is an anomaly, and as a whole you take that and say things wwll get better, more products gets old and services rendered in 2014. cheryl: the bigger question for the markets, we are down a few points. and to make that -- >> a string of economic...
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it actually sets the stage for a better economy going forward. connell: companies are doing more with less. they were saying we will make the most of it, we will cut back on how many human beings we have, more electronically or with machinery or cut our costs and still have the same amount of production. that has been the story for years. will we see a big-time story in that pattern? >> we will see weaker productivity growth, which is good in the end for the recovery to be self-sustaining, if you will, but some of that was because of the fluky gdp numbers. the fourth-quarter gdp all because of inventory and defense spending, other components are growing. first quarter will be 2% growth, so the productivity number will still be weak in the first quarter but not as bad as that in the fourth quarter. connell: give me a bottom line. even after the recession everything we have been through, people still coming out and telling us what is wrong with the economy. >> there are two or three good things going on. consumer sentiment has been at about a 2% ra
it actually sets the stage for a better economy going forward. connell: companies are doing more with less. they were saying we will make the most of it, we will cut back on how many human beings we have, more electronically or with machinery or cut our costs and still have the same amount of production. that has been the story for years. will we see a big-time story in that pattern? >> we will see weaker productivity growth, which is good in the end for the recovery to be...
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i think those people are just the life blood of the economy. i hope the republican party does just the way we did under reagan. we should accept all sorts of people. it is not hispanic or black or white or male or female, old or young. connell: art laffer, bankia. always great. >> say hello to dagen. connell: she will be back tomorrow. on a day when auto sales are helping to drive this economy, general motors and honda striking a new deal. we will get into that in just a few minutes. new data on home prices. diane macedo will have more on that in the business brief which is straight ahead. chinese investment in u.s. corporations. the mayor of smithfield is our guest. all of hat straight ahead on markets now. ♪ ♪ >> hello everyone. i am diane macedo with your fox business brief. home prices posting their biggest gain since may. prices rose 12.2% from a year ago. delaware and alabama were the only two states where sales fell . that is according to the latest. shares of american greetings are jumping. they upped their buyout offer for the thir
i think those people are just the life blood of the economy. i hope the republican party does just the way we did under reagan. we should accept all sorts of people. it is not hispanic or black or white or male or female, old or young. connell: art laffer, bankia. always great. >> say hello to dagen. connell: she will be back tomorrow. on a day when auto sales are helping to drive this economy, general motors and honda striking a new deal. we will get into that in just a few minutes. new...
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what is your sense when we look at the global economy? >> i think china people are still getting used toothe fact that china grew 10 or 12% between early 2,000s and 2008 and they thought china would continue that once the global recession was over. that's not been the case. so china is coming in at 7 to 8%. europe the best you can say there it stopped getting worse but it really hasn't gotten better. i think europe has problems with their financial transmission mechanism. getting a it the money ecb put out there into the hands of small and medium-sized business who do all the hiring in business. there you best you can expect in europe is flat growth. emerging markets are kind of trailed behind by china. so i think you''e getting decent global growth. no recession certainly but not getting that boom and i think that's enough to keep a lid on u.s. growth because we have a fairly large export oriented economy. half of our exports go to the fast-growing emerging market economies and you're not seeing as fast growth there as you have in the pa
what is your sense when we look at the global economy? >> i think china people are still getting used toothe fact that china grew 10 or 12% between early 2,000s and 2008 and they thought china would continue that once the global recession was over. that's not been the case. so china is coming in at 7 to 8%. europe the best you can say there it stopped getting worse but it really hasn't gotten better. i think europe has problems with their financial transmission mechanism. getting a it the...
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Sep 16, 2013
09/13
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the economy is still slack. so if republicans want the economy to grow faster, create more jobs faster they should want to get rid of it. is irresponsible to keep it in place. and if congress is serious about wanting to grow the economy faster and create jobs faster the first order of business must be to pass a sensible budget that replaces the sequester with a balanced plan that is both fiscally sound and finds investments like education and basic research and infrastructure that we need to grow. this is not asking too much. congress, the most fundamental job as passing a budget. and congress needs to get it done without triggering another crisis, without shutting down the government or, worse, threatening not to pay this country's bills. after all the progress that we have made of his last four and a half years, the idea of reversing the progress because of an unwillingness to compromise our because of some ideological agenda is the height of irresponsibility. it is now with the american people need right now.
the economy is still slack. so if republicans want the economy to grow faster, create more jobs faster they should want to get rid of it. is irresponsible to keep it in place. and if congress is serious about wanting to grow the economy faster and create jobs faster the first order of business must be to pass a sensible budget that replaces the sequester with a balanced plan that is both fiscally sound and finds investments like education and basic research and infrastructure that we need to...
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Aug 13, 2013
08/13
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don't get me started on airlines. >>> to the economy. atlanta fed chief dennis lockhart says it has improved but the labor market is still not where the fed wants it to be. lockhart also saying that the initial tapering should be a cautious first step. joining us is lindsey piegza, chief economist at stern ag. great to he sue. normally we have you here in studio. you're in chicago today. mr. lockhart was saying that a lot of the data we're getting, it just doesn't provide a lot of clarity. today we had retail sales which were, eh, at least on the up side, but what is the economic data telling us? >> that's right. starting with retail sales the headline report came in a little less than expected but the prior month was revised up so what this says on net the consumer is little changed from where they were at the end of the second quarter but this is not to say they're on much firmer footing because remember the consumer was able to spend through the first quarter, despite those onerous tax increases but we lost a considerable amount of mo
don't get me started on airlines. >>> to the economy. atlanta fed chief dennis lockhart says it has improved but the labor market is still not where the fed wants it to be. lockhart also saying that the initial tapering should be a cautious first step. joining us is lindsey piegza, chief economist at stern ag. great to he sue. normally we have you here in studio. you're in chicago today. mr. lockhart was saying that a lot of the data we're getting, it just doesn't provide a lot of...
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Oct 10, 2013
10/13
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yet bullish on the economy. do you think the american consumers feel what he is feeling about the strengthening economy? speak out i think bullish is a relative term. if you call 2% growth bullish, sure. i can buy into that. but we have been saying time and again, this economy is going to have a very hard time searching away from this 2% growth that we have existed in. you saw 2% growth, i can buy into that. dennis: some people are surprised the market is not down even more. >> i think what happened is we have seen this movie so many times, we know the ending. that is exactly what we have seen. kick the can, four weeks of back and forth again, somehow they will get to a resolution and nobody will like it. we have seen it before. people are tired of it and while they will do a lot of screaming, at the end they will be a reasonably happy ending. as for your prior question, i do think the average american whose net worth is mostly tied up in their homes, increaae in home prices has been real, it is sustainable and
yet bullish on the economy. do you think the american consumers feel what he is feeling about the strengthening economy? speak out i think bullish is a relative term. if you call 2% growth bullish, sure. i can buy into that. but we have been saying time and again, this economy is going to have a very hard time searching away from this 2% growth that we have existed in. you saw 2% growth, i can buy into that. dennis: some people are surprised the market is not down even more. >> i think...
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it hurts the economy. remember these guys aren't paying taxes or investing in people or investing in the next iphone, they are not trying to put the super bowl on, they are criminals. when you buy something from these people your money is going to organized criminals overseas. dagen: how do you drive that message come from nfl fans? if i want to stick jersey, nike wasn't making one, i am going to go out and find it some way somehow? >> that is a great question. we work with licensees to make sure there's merchandize the fans want that are available for them at every price point. so that they are not tempted to go out and buy something from a counterfeiter. we work hard with licensees and local businesses in new orleans and elsewhere to make sure we can meet the demands. dagen: designed it to go to the game since he is in frugal in this crackdown on counterfeiters? did you get him a ticket? >> we would love to have him. dagen: i would buy a plane ticket and 5 were you. john morton and anastasia daniels on t
it hurts the economy. remember these guys aren't paying taxes or investing in people or investing in the next iphone, they are not trying to put the super bowl on, they are criminals. when you buy something from these people your money is going to organized criminals overseas. dagen: how do you drive that message come from nfl fans? if i want to stick jersey, nike wasn't making one, i am going to go out and find it some way somehow? >> that is a great question. we work with licensees to...
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Feb 28, 2013
02/13
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katherine, will the impact on the economy, an economy only growing one-tenth of a percent, will it be greater than what bet right now? >> i think it will be greater, and, first, i think we have to look at that fourth quarter data for the gdp. about a one percentage point cult from what growth might have been because of the expectations of the defense cut. the first and second quarter, macroeconomics suggest growth over the whole year is a half percentage point lower, by most of that decline happens in the first half when the spending cuts hit. that will worsen expectations. some say it's not going to impact at all, and, in fact, it's going to be concentrated in the first half of the year, and that's going to make everybody feel bad. i also think that when we look at the decomposition by regions, one of the things that the politicians, perhaps, are not paying attention to is that 20% of the spending in the washington, d.c. metro area is associated with the defense and their contractors so that they're biting the hand that feeds in their neighborhood. it will be interesting to see wheth
katherine, will the impact on the economy, an economy only growing one-tenth of a percent, will it be greater than what bet right now? >> i think it will be greater, and, first, i think we have to look at that fourth quarter data for the gdp. about a one percentage point cult from what growth might have been because of the expectations of the defense cut. the first and second quarter, macroeconomics suggest growth over the whole year is a half percentage point lower, by most of that...
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economy. >> well, i mean, look, we had very anemic economic growth for the better part of the last four years. that is not going to change. this deal is not a game changer, doesn't change that. the only sense of why i'm somewhat positive on the keel is what the alternative was. i mean, the -- there are two alternatives to what we had. one was a grand bargain. the other was going over the cliff. the going over the cliff would have been disas rows in the short term. i just think that the grand bargain was just totally implausible given a lame duck session. lame duck sessions always underdeliver on policy changes, and i would argue, i will make the argument that doing major policy changes of a grand bargain. in a very short time frame, between the election and end of the new year, could have actually resulted in bad policy changes. people rushed to get things through. >> although, i'll interrupt you because people say that about this particular deal, but how important is it, then, that, i mean, m
economy. >> well, i mean, look, we had very anemic economic growth for the better part of the last four years. that is not going to change. this deal is not a game changer, doesn't change that. the only sense of why i'm somewhat positive on the keel is what the alternative was. i mean, the -- there are two alternatives to what we had. one was a grand bargain. the other was going over the cliff. the going over the cliff would have been disas rows in the short term. i just think that the...
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there's a lot more resilience in the economy than people give the economy credit for and we have -- the tactics of work. dennis: windows the fed start capering? if they cut $85 billion in bond purchases to $50 billion it has to be the end of the world, does it? >> paper is a good thing. people are worried about it. the economy is recovering or we're getting off life-support, if the economy was a patient in the intensive care unit at the hospital and they said your mom is doing great we will be able to take off life support and she will go home and a few days, you would be ecstatic and look at where we are, wringing their hands about this thing, the economy is getting better is the bottom line, great news. dennis: why is there such a malaise. why don't we get what you are saying? >> people look for things to worry about. that is the situation. the market in june declined substantially when they first announced and they have all time highs and the same might happen now. last couple days and today may be declining initial reaction but ultimately see it as a good thing as the economy streng
there's a lot more resilience in the economy than people give the economy credit for and we have -- the tactics of work. dennis: windows the fed start capering? if they cut $85 billion in bond purchases to $50 billion it has to be the end of the world, does it? >> paper is a good thing. people are worried about it. the economy is recovering or we're getting off life-support, if the economy was a patient in the intensive care unit at the hospital and they said your mom is doing great we...